BTC NEWS: Hedge Fund Clients Ask Goldman Sachs To Enter Bitcoin

There were reports that clients of hedge funds appealed to the head of the technical service of Goldman Sachs with a request to start working with bitcoin, mainly due to the low effectiveness of hedge funds.

"The market has approached (quite) close to achieving a distant (2.618) target for the third V-jump from the 3.134 start-up slide," says Sheba Jafari , the chief technical officer of the company, "he is on the way to making top-down changes if Today's close is set to below 2.749."

Price Bitcoin on Monday reached a record mark of $ 3,000, but could not resist this position, dropping to almost $ 2,500.

Bitcoin will reach new heights

According to the financial analyst of the ZeroHedge site, Tyler Durden, most likely bitcoin will reach new heights. Derden also believes that the daily and weekly fluctuations of the market "negatively disagree."
According to Derden, hedge funds lack volatility in all types of assets, and fund managers are waiting for Goldman Sachs to decide on the Efirium.
At the moment, most fund managers remain aloof from bitcoin. Nevertheless, those few who still included it, significantly outperform their rivals.

A new level of adoption Bitcoin

In the event that Goldman Sachs decides to invest in bitcoin, this will signal a new level of acceptance of the crypto currency by institutional investors. Prior to this, institutional investors largely avoided bitcoin.

The largest fund working with Bitcoin is the Pantera Bitcoin Fund, which last year became a hedge fund with a capital of $ 160 million.

The index of the HFRI Weighted Composite Index, based on stock ratios, returned only 0.46% in May and 3.5% from the beginning of the year. For comparison, the total revenue of the S & P500 was 1.16% in May and 9.61% since the beginning of the year, while bitcoins earned 180% this year.

Goldman Sachs Bank is actively exploring the use of blocking technology for financial transactions and trading infrastructure. The company became one of the first members of the banking blockade consortium R3, but withdrew from it in October last year.

Now Goldman Sachs is an investor of the possible competitor R3 - the company Digital Asset and has already made a number of deductions to the company's crypto currency solutions in the sphere of currency transactions.